Bookmark and Share Business News in the South from The Randle Report

 

Sign up for Randle Report Daily Emails for all The South's Business and Political News Follow Randle Report on Facebook for Business News in the South Follow Randle Report on Twitter for all The South's Business and Political News

 

 
9
Likes

Coffers bulge amid South Texas shale boom
GONZALES, Texas - The development of the Eagle Ford shale continues to transform South Texas as production from the vast oil and gas play has surpassed forecasts, members of the Eagle Ford task force were told Wednesday. Just in Carrizo Springs, the sales tax returned in March alone totaled more than $500,000. Paula Seydel, manager of the Dimmit County Chamber of Commerce said it's a thrill that new small businesses are opening or expanding in once-dying downtowns. The shale development, she said, "is the answer to a prayer, the answer to a dream." Overall, the oil and gas industry is making strong contributions to the state's coffers, too. Houston Chronicle
Submitted 2 years 94 days ago

-3
Likes

Texas banks could see Mexicans pull money
In a move U.S. bankers and lawyers fear will result in massive foreign withdrawals from deposit accounts, the U.S. Treasury Department and its Internal Revenue Service have adopted a final rule requiring U.S. banks and credit unions to report interest payments made to foreign, nonresident depositors beginning in January. The final rule was adopted Monday for publication Thursday in the Federal Register, the IRS and the American Bankers Association said Wednesday. Starting next year, interest payment information will be forwarded to the home countries of foreign depositors. In the case of Mexico, U.S. bankers believe Mexican depositors will fear for their safety if their names and addresses are reported to the Mexican government. Houston Chronicle
Submitted 2 years 94 days ago

4
Likes

OKC-based Chesapeake Energy: Are the `e’s’ tilting?
Chesapeake Energy’s chief executive, Aubrey McClendon, borrowed as much as $1.1 billion during the past three years by pledging his private stake in the company’s oil and gas wells as collateral, Reuters reported Wednesday. The news, which comes as the natural gas producer is struggling amid a slump in gas prices, rattled Chesapeake’s investors. They’ve been burned in the past by McClendon, such as when margin calls forced him to sell almost all his stock in the company, causing shares to plunge. After news of the loans broke Wednesday, Chesapeake’s shares tumbled 5.5 percent. Houston Chronicle
Submitted 2 years 94 days ago

6
Likes

Gauge of US economy rose 0.3 percent in March
WASHINGTON (AP) -- A measure of future U.S. economic activity rose in March for the sixth straight month, a sign that the economy may be gaining momentum. The Conference Board said Thursday that its index of leading economic indicators rose 0.3 percent in March, after a 0.7 percent increase in the previous month. The index now stands at 95.7, the highest level since June 2008. Before the recession began in December 2007, it routinely topped 100. The rise comes even as other indicators released Thursday suggest the economy could be slowing. The number of people seeking unemployment benefits dipped last week but remained higher than it has been in recent weeks. And Americans bought fewer previously owned homes in March, a separate report said, a reminder that the housing market remains weak. Dallas Morning News
Submitted 2 years 94 days ago

-2
Likes

Fort Worth-based AMR loses $1.66 billion, and its bankruptcy case caused most of the loss
AMR Corp. , parent of American Airlines Inc., said it lost $1.66 billion in the first quarter, with much of the loss attributed to its bankruptcy restructuring. Its operating loss of $89 million was actually lower than its $232 million operating loss in first quarter 2011, a period in which it had a net loss of $436 million. But the 2012 results included $1.4 billion in expenses related to its efforts to reorganize its finances, including $1.02 billion from rejecting or renegotiating its aircraft financing, $339 million from rejecting obligations related to facility bonds and $45 million in professional fees for the lawyers, consultants, financial advisors and others working on the case. Dallas Morning News
Submitted 2 years 94 days ago

1
Likes

Downtown Austin office market looks up as tower planned
Atlanta-based Cousins Properties Inc. says it plans to build a 30-story office tower at Third and Colorado streets, a project that could become the first new high-rise office building in downtown Austin since Cousins opened Frost Bank Tower eight years ago. Cousins intends to break ground late this year on the new tower, which would have about 390,000 square feet of office space, said Tim Hendricks, senior vice president with Cousins. Twelve of the 30 stories would be for a parking garage with 900 spaces. The building would also have 6,000 square feet of street-level retail. The project, which Cousins is calling Colorado & Third, would rise on what is now a parking lot across Colorado Street from Sullivan's Restaurant. San Antonio-based Hixon Properties Inc. formerly planned to build an upscale hotel on the site. Austin American-Statesman
Submitted 2 years 94 days ago

74
Likes

Obama honors Crimson Tide for BCS championship
WASHINGTON — (AP) President Barack Obama is honoring the University of Alabama football team for winning the BCS championship in January. It was the Crimson Tide's 14th championship. Alabama entered the game ranked second and beat top-ranked Louisiana State University 21-0. Obama says it was a "fun season to watch" but also a "deeply meaningful season" for the Crimson Tide. Obama praised the team for their efforts in the Alabama community, noting the importance of athletes helping rebuild Tuscaloosa, Ala., after devastating tornadoes touched down in April 2011. Montgomery Advertiser
Submitted 2 years 94 days ago

8
Likes

Randy McClain: Auto industry enriches TN coffers
How important is the auto industry to Tennessee? Consider this fact: Tennessee is one of just seven states that get 18 percent or more of tax revenue from links to the auto industry — virtually $1 of every $5 that hits the state’s cash box comes from cars, the workers who make them and the consumers who drive them. That’s the conclusion reached by the Ann Arbor, Mich.-based Center for Automotive Research in a new study. The auto sector here accounts for a total of $1.87 billion in taxes linked to car sales, license and registration fees, fuel taxes, and other business taxes paid by auto manufacturers, parts suppliers and dealers. That’s an impressive tally. The Tennessean
Submitted 2 years 94 days ago

-11
Likes

Chattanooga loses Audi plant to Mexico
After a bit of drama and intense lobbying, Audi said it has decided to build a new automotive factory in Mexico rather than in Chattanooga where Volkswagen already makes the popular Passat. Audi said it hasn’t decided exactly where in Mexico to put its plant, but the facility will make SUVs starting in 2016. Sister brand Volkswagen has long had a plant in Puebla, Mexico, making cars for both the United States and Mexico. VW also opened its first production plant in the U.S. in decades about a year ago in Chattanooga, leading to recent speculation that Audi might build next door and give Tennessee one more jolt of auto industry jobs. That didn’t occur. Tennessee officials took the news in stride on Wednesday, saying that trade issues were the likely cause of the loss rather than a flaw in how the state courted the Audi project. USA Today via The Tennessean
Submitted 2 years 94 days ago

6
Likes

Tennessee jobless rate fell to 7.9 percent in March
NASHVILLE — The Tennessee jobless rate fell to 7.9 percent in March, down one-tenth of a percentage point, marking the eighth straight month of decline. The rate is the lowest since November 2008, said Karla Davis, commissioner of the Tennessee Department of Labor & Workforce Development. The national figure for March was 8.2 percent, also down one-tenth of a percentage point from the February rate of 8.3 percent. Davis said the state lost jobs in March, but the number of unemployed declined at a faster rate. Memphis Commercial Appeal
Submitted 2 years 94 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

In growth, companies find themselves in the dilemma of identifying capital to increase capacity and managing opportunity cost where capital may be deferred. This dilemma is amplified as capacity constraints drive a company to complete the site selection process for an expanding or new facility. 
 

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 Nashville Mayour Karl Dean

We try to change up the categories in our annual Ten Top 10s section, but we always include the "Ten People Who Made a Difference" category. This year though, we are honoring 12 and you will learn why by reading about this group of folks who have made a difference in the South. Here is our annual list that includes executives, economic developers and politicians who have made a difference in the South's economy.


 


 

 

ODEC
Southern Business & Development Southern Auto Corridor Small Town South Randle Report

Copyright ©2014 Randle Report
All of the South's Business News, Political News, and Economic Development News in One Place
Login